Civic Intelligence

Stark Economic Development Board Inc.

990 • Fiscal year 2014 • EIN 34-1476938

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 15, 2014

116 Cleveland Avenue NWRoom/Suite 60044702-1730

(330) 453-5900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

25th percentile

0.01x

Higher debt load relative to assets than 25% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

32nd percentile

0.04x

Higher debt load relative to revenue than 32% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-213%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

87th percentile

$173,537

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 42.2% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

3rd percentile

-37%

Faster asset growth than 3% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$1,449,357

Down $852,667 (-37%) from 2013

Net Assets

Down

$1,432,412

Down $877,214 (-38%) from 2013

Liabilities

Up

$16,945

Up $24,547 (+323%) from 2013

Revenue

$410,959

No earlier filing loaded for comparison.

Expenses

Down

$1,288,173

Down $5,738 (-0.4%) from 2013

Net Income

-$877,214

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$10M$0-$10MAssets 2011: $2,286,821Liabilities 2011: $11,858,821Net Assets 2011: -$9,572,0002011Assets 2012: $2,689,559Liabilities 2012: $11,883,555Net Assets 2012: -$9,193,9962012Assets 2013: $2,302,024Liabilities 2013: -$7,602Net Assets 2013: $2,309,6262013Assets 2014: $1,449,357Liabilities 2014: $16,945Net Assets 2014: $1,432,4122014Assets 2015: $2,156,931Liabilities 2015: $15,816Net Assets 2015: $2,141,1152015Assets 2016: $1,724,244Liabilities 2016: $32,140Net Assets 2016: $1,692,1042016Assets 2017: $1,243,840Liabilities 2017: $3,663Net Assets 2017: $1,240,1772017Assets 2019: $2,535,944Liabilities 2019: $176,000Net Assets 2019: $2,359,9442019Assets 2020: $2,650,734Liabilities 2020: $183,100Net Assets 2020: $2,467,6342020Assets 2021: $4,016,090Liabilities 2021: $55,845Net Assets 2021: $3,960,2452021Assets 2022: $3,590,351Liabilities 2022: $54,112Net Assets 2022: $3,536,2392022Assets 2023: $3,682,250Liabilities 2023: $731,016Net Assets 2023: $2,951,2342023Assets 2024: $4,718,596Liabilities 2024: $679,796Net Assets 2024: $4,038,8002024Assets 2025: $4,239,277Liabilities 2025: $677,033Net Assets 2025: $3,562,2442025

Highlighted filing

2014

Assets$1,449,357
Liabilities$16,945
Net Assets$1,432,412

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,186,2402011Expenses 2012: $1,155,1462012Expenses 2013: $1,293,9112013Revenue 2014: $410,959Expenses 2014: $1,288,173Net Income 2014: -$877,2142014Revenue 2015: $1,883,752Expenses 2015: $1,175,049Net Income 2015: $708,7032015Revenue 2016: $581,531Expenses 2016: $1,030,542Net Income 2016: -$449,0112016Revenue 2017: $355,822Expenses 2017: $827,853Net Income 2017: -$472,0312017Revenue 2019: $1,258,272Expenses 2019: $978,347Net Income 2019: $279,9252019Revenue 2020: $1,710,822Expenses 2020: $1,603,132Net Income 2020: $107,6902020Revenue 2021: $2,811,607Expenses 2021: $1,318,996Net Income 2021: $1,492,6112021Revenue 2022: $872,768Expenses 2022: $1,295,041Net Income 2022: -$422,2732022Revenue 2023: $1,169,229Expenses 2023: $1,752,044Net Income 2023: -$582,8152023Revenue 2024: $3,350,050Expenses 2024: $2,260,828Net Income 2024: $1,089,2222024Revenue 2025: $1,728,680Expenses 2025: $2,205,236Net Income 2025: -$476,5562025

Highlighted filing

2014

Revenue$410,959
Expenses$1,288,173
Net Income-$877,214
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 15, 2014
Return Version
2013v3.1
Gross Receipts
$410,959
Mission and Program Overview

Mission

The primary tax-exempt purpose is to attract, expand and retain business investments in the stark county area. A list of activities to further the purpose includes: working through the stark county public-private infrastructure coalition to seek financing for infrastructure improvements. Assisting in the future success of the akron-canton foreign trade zone. Working with the ohio department of transportation to operate an intermodal freight facility in the massillon area. Assisting in the development of future industrial parks and sites throughout stark county. Working with the akron regional development board and the akron-canton airport to plan for future industrial development of the i-77 corridor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,035,368$731,492▼ $303,876
Pledges and Grants Receivable$1,078,322$425,096▼ $653,226
Savings and Temporary Cash Investments$168,780$266,959▲ $98,179
Accounts Receivable$14,716$21,747▲ $7,031
Prepaid Expenses and Deferred Charges$3,751$2,976▼ $775
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Total Assets$2,302,024$1,449,357▼ $852,667
Other Assets Total$987$987→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property-$9,138-
Accounts Payable and Accrued Expenses$-7,602$7,807▲ $15,409
Total Liabilities$-7,602$16,945▲ $24,547
Net Assets / Fund Balance
Unrestricted Net Assets$1,013,612$648,456▼ $365,156
Temporarily Rstr Net Assets$1,078,322$566,264▼ $512,058
Permanently Rstr Net Assets$217,692$217,692→ $0
Total Net Assets Fund Balance$2,309,626$1,432,412▼ $877,214
Total Liabilities and Net Assets / Fund Balance$2,302,024$1,449,357▼ $852,667

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$418,713$4,868,381$5,287,094
Equipment-$4,470,007$4,470,007
Buildings$77,745$895,508$973,253
Land$225,880-$225,880
Other Land Buildings$9,154$16,562$25,716
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen L PaquettePresidentFT$144,057$29,480$173,537
Revenue and Support

Revenue Composition

Contributions and Grants
$146,697
Program Service Revenue
$66,685
Investment Income
$209
Other Revenue
$197,368
All Other Contributions
$19,397
Change in Net Assets
$-877,214

Audited Revenue Reconciliation

Revenue per Audited Statements
$410,959
Total Revenue per Audited Statements
$410,959
Total Revenue per Form 990
$410,959
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$738,241
Other Expenses$489,932
Grants and Similar Amounts Paid$60,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$388,908$64,759-$453,667
Depreciation Depletion$313,017$1,030-$314,047
Current Officers, Directors, Trustees, and Key Employees$147,724$25,813-$173,537
Other Employee Benefits$66,132--$66,132
Grants to Domestic Orgs$60,000--$60,000
Advertising$47,465--$47,465
Payroll Taxes$40,542$4,363-$44,905
Occupancy$23,596$5,870-$29,466
Travel$16,531$4,536-$21,067
All Other Expenses$12,063$2,041-$14,104
Fees for Services Other$6,618$4,942-$11,560
Other Expenses$6,587$1,232-$7,819
Fees for Services Accounting$7,500--$7,500
Insurance$5,404$1,110-$6,514
Office Expenses$1,618$403-$2,021
Interest-$392-$392
Total Functional Expenses$1,158,745$129,428$0$1,288,173

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,288,173
Total Expenses per Audited Statements$1,288,173
Total Expenses per Form 990$1,288,173
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
34-1885407--Attract and Expand N$60,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Ryan stenger wj timken jr. Business robert gessner nancy gessner family and business gerard mastroianni doug schwarz business

Form 990, Page 6, Part VI, Line 11B

The president reviews all questions and completes a verification to the audited financial statements.

Form 990, Page 6, Part VI, Line 12C

Should a conflict arise, the individual is asked to abstain from voting on any issues related to the conflict.

Form 990, Page 6, Part VI, Line 15A

Per the organization's personnel manual, salaries are reviewed on the anni versary date of each employee and are determined by the president based on budget allocations and the salary framework approved by the executive com mittee and board of trustees.

Form 990, Page 6, Part VI, Line 15B

Per the organization's personnel manual, salaries are reviewed on the anni versary date of each employee and are determined by the president based on budget allocations and the salary framework approved by the executive com mittee and board of trustees.

Form 990, Page 6, Part VI, Line 19

All financial statements, governing documents, and policies are made avail able to the public upon request.

Filing and Contact Details

Filer

EIN
34-1476938
Phone
3304535900

Signing Officer

Name
Stephen L Paquette
Title
President
Phone
3304535900
Signed
2014-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen L Paquette
Formed
1985
Legal Domicile
Oh
Voting Board Members
39
Independent Board Members
39
Employees
12
Volunteers
39

Preparer

Preparer
Doreen M Smith CPA
Phone
3304771075
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The primary tax-exempt purpose is to attract, expand and retain business investments in the stark county area. A list of activities to further the purpose includes: working through the stark county public-private infrastructure coalition to seek financing for infrastructure improvements. Assisting in the future success of the akron-canton foreign trade zone. Working with the ohio department of transportation to operate an intermodal freight facility in the massillon area. Assisting in the development of future industrial parks and sites throughout stark county. Working with the akron regional development board and the akron-canton airport to plan for future industrial development of the i-77 corridor.

Form 990, Page 1, Part I, Line 6

The volunteers are solely comprised of the board trustees.

Financial Statement Notes

Schedule D, Page 3, Part X

Effective january 1, 2009, generally accepted accounting principles require the organization to evaluate the level of uncertainty related to whether tax positions taken will be sustained upon examination. Any positions taken that do not meet the more-likely-than-not threshold must be quantified and recorded as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits would be classified as additional income taxes in the statement of income. The organization believes that none of the tax positions taken would materially impact the financial statements and no such liabilities have been recorded.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.24$0.68$3.56$1.73$2.21$0.48
2024Detailed filing. Detailed filing data is available for this year.$4.72$0.68$4.04$3.35$2.26$1.09
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.68$0.73$2.95$1.17$1.75$0.58
2022Detailed filing. Detailed filing data is available for this year.$3.59$0.05$3.54$0.87$1.30$0.42
2021Detailed filing. Detailed filing data is available for this year.$4.02$0.06$3.96$2.81$1.32$1.49
2020Detailed filing. Detailed filing data is available for this year.$2.65$0.18$2.47$1.71$1.60$0.11
2019Detailed filing. Detailed filing data is available for this year.$2.54$0.18$2.36$1.26$0.98$0.28
2017Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.24$0.36$0.83$0.47
2016Detailed filing. Detailed filing data is available for this year.$1.72$0.03$1.69$0.58$1.03$0.45
2015Detailed filing. Detailed filing data is available for this year.$2.16$0.02$2.14$1.88$1.18$0.71
2014Detailed filing. Detailed filing data is available for this year.$1.45$0.02$1.43$0.41$1.29$0.88
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.30$0.01$2.31$1.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$11.9$9.19$1.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.29$11.9$9.57$1.19